- Steak ‘n Shake’s Bitcoin acceptance begins on May 16, marking a major fast food shift.
- The fast food chain tests Bitcoin’s scalability with high-volume, small-ticket transactions.
- Over 100 million Steak ‘n Shake customers will gain access to crypto payments.
American fast food chain Steak ‘n Shake has announced that it will begin to accept Bitcoin at all locations across the United States from May 16. This makes it one of the largest restaurant chains to fully embrace the leading cryptocurrency.
The initiative, acknowledged through the company’s X account on May 9, intends to provide over 100 million customers with a new means of payment, representing a crucial milestone toward crypto adoption.
Bitcoin Payments Set to Test Fast Food Scalability
The decision to accept Bitcoin comes after months of social media hints and community engagement. In March, Steak ‘n Shake sparked online discussions by posting, “Should Steak ‘n Shake accept Bitcoin?” on X, drawing rapid support from Bitcoin proponents like former Twitter CEO Jack Dorsey.
The company continued with a streak of Bitcoin-themed marketing posts, including a Mars-bound cargo ship graphic stamped with the Bitcoin logo, reflecting the cultural significance of the digital asset.
Unlike high-end tech retailers, fast-food units are based on minimal profit margins and high transaction volumes. Steak ‘n Shake’s Bitcoin integration is an essential test of the cryptocurrency’s speed, cost, and reliability in real-world, high-frequency cases. The chain’s rollout will also highlight the feasibility of crypto payments for small-ticket transactions, a key challenge for broader Bitcoin adoption.
Steak ‘n Shake Joins Crypto-Friendly Fast Food Chains
Although Steak ‘n Shake’s nationwide expansion of Bitcoin is notable for its size, it is not the first chain of restaurants to consider digital currency payments. In 2022, Chipotle started accepting over 100 cryptocurrencies, including the popular Bitcoin, Ether, and Solana, through Flexa, a payment system for the restaurant chain’s U.S. locations. The system converts crypto to fiat at the point of sale, eliminating merchants’ volatility concerns.
Other early adopters include Subway, which piloted Bitcoin payments at some franchises in 2013, and KFC, which had a “Bitcoin Bucket” promotion in Canada. McDonald’s has also tried out Bitcoin payments in Lugano, Switzerland, to attempt a local initiative with the cryptocurrency. At the same time, Pizza Hut in El Salvador started accepting BTCs after Salvadoran authorities legalized the crypto as a form of acceptable tender in 2021.
Related: Bitcoin (BTC) Price Prediction for May 10
The move by Steak ‘n Shake depicts a broader trend of mainstream companies venturing into digital currencies, driven by increasing consumer interest and the availability of reduced transaction fees. As one of the first major fast-food brands to launch crypto payments on a large scale, Steak’ n Shake’s integration will likely be a landmark case study for the industry.
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